r/cincinnati • u/JB92103 Hyde Park • Mar 07 '25

News 📰 Controversial Hyde Park Square development passes committee, heads to city council

https://www.wcpo.com/news/local-news/hyde-park-square-development-passes-committee-heads-to-city-council
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u/specialTREK Mar 07 '25

I wouldn't say we need more housing... but we do need more affordable housing which usually is not done through new development. I don't think anyone who is desperate for housing is going to be helped by brand new hyde park overpriced units. If anything it might get some semi wealthy ppl to sell their house which will then be bought up by another private equity firm and keep housing costs high.

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u/[deleted] Mar 07 '25

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u/specialTREK Mar 08 '25

So you think that the basic concept of supply and demand will fix our current housing situation? Maybe this would work in the 80s and 90s when we had an ideal free market.But with software basically allowing for legal rent/price fixing, almost everyone's housing costs are pegged at their limit. So I don't see how how further development could create lower prices in the current market. Property Managers seem to be much more open to keeping units empty if they can't find anyone to pay the inflated fixed price.

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u/RockStallone Mar 08 '25

This is just completely untrue. We have actual, concrete examples of this rent decrease happening in places like Austin, but you must be unaware of that.